China stocks regulator approves six IPOs to raise $499 million

SHANGHAI (Reuters) - China’s securities regulator has said it has approved six initial public offerings (IPOs) that aim to raise a combined total of up to 3.4 billion yuan ($499.29 million).

Three of the approved IPOs are on the Shanghai bourse, one on the Shenzhen small and medium enterprise (SME) board, and two on the start-up ChiNext board, the China Securities Regulatory Commission said in a statement on its official microblog on Friday.